Vox Royalty (VOXR) Corporate presentation summary

Financial performance and growth

• Achieved 50% annual growth in receipts to $16.6M in 2025, exceeding guidance and with 75% of Q4 receipts from gold and silver.

• Record quarterly receipts of $7.4M in Q4 2025, with significant organic growth from new and expanded producing assets.

• Revenue growth driven by expansions and new mines, with a track record of increasing receipts from $0.1M in 2020 to $16.6M in 2025.

• Several royalties have achieved full payback, with multiples on invested capital up to 14x for certain assets.

• Dividend yield has grown consistently, with the business operating at a discount to average broker price targets.

Portfolio expansion and acquisitions

• Completed a $60M global gold portfolio acquisition in September 2025, adding $16.3M in trailing 12-month receipts and increasing producing assets to 12.

• Portfolio now includes royalties and offtakes on assets operated by major companies such as Equinox Gold, B2Gold, Vault Minerals, Allied Gold, and Gold Fields.

• Acquisitions in 2025 included Kanmantoo Copper-Gold, Stockman Copper-Gold, and countercyclical iron ore royalties, supporting index inclusion and liquidity.

• Asset base is globally diversified, with 75% of receipts from precious metals and significant exposure in Australia.

Organic growth and future outlook

• Significant organic growth potential with the possibility of over 20 producing assets by 2028, supported by a pipeline of development, feasibility, and exploration-stage royalties.

• Key growth assets include Red Hill, Sugar Zone, Los Filos, Blyvoor, Bowdens Silver, and Limpopo, with major expansions and restarts underway.

• Proprietary database of over 8,500 royalties enables sourcing of attractively priced deals and ongoing portfolio expansion.

• Exposure to strong gold prices, with gold trading above $3,000 and reaching $5,000 in January 2026, enhancing leverage to precious metals.